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A review by brucefarrar
Still! The Only Investment Guide You'll Ever Need by Andrew Tobias
4.0
Tobias wittily dispenses a lot of common sense in this tenth edition of his book. His advice: first, be thrifty, e.g. buy in bulk at a discount, use the public library, not the bookstore, and pay off your credit cards. Spend less than your income. After you have a year’s annual income safely in your savings account at the bank, then is the time to consider investing in stocks and bonds.
When you’ve saved enough to invest, remember that in the long-term equity will earn more than debt, so buy stocks in a bear market, and leave them there for a long time. Do this because bonds alone will not keep up with inflation. Indexed mutual funds are your best bet, but don’t forget it’s a bet. Ignore financial newsletters, there is no way you can predict what the market will do, when even financial experts are unable to do it. Don’t buy annuities or dabble in commodities futures.
When you’ve saved enough to invest, remember that in the long-term equity will earn more than debt, so buy stocks in a bear market, and leave them there for a long time. Do this because bonds alone will not keep up with inflation. Indexed mutual funds are your best bet, but don’t forget it’s a bet. Ignore financial newsletters, there is no way you can predict what the market will do, when even financial experts are unable to do it. Don’t buy annuities or dabble in commodities futures.